Home > Chemicals & Materials > Advanced Materials > Functional Materials > Americas Spandex Market
Americas Spandex Market Size
Americas Spandex market size exceeded USD 630 Million, globally in 2018 and is estimated to grow at over 12% CAGR between 2019 and 2025. Increasing demand for compressional stockings and surgical hoses in medical sector will foster product demand.
Spandex is an elastic fiber produced from polyether-polyurea copolymer. It offers various benefits including resistance to wear & tear caused by detergents, sweat, body oils, and lotions, making it ideal for apparel usage. It has several applications which include medical, home furnishings, apparel, and automotive textiles. These factors will have a positive impact on Americas spandex market.
The product offers high elasticity, up to 500% its length, providing perfect comfort & fit thus preventing sagging when used in garments. Spandex is used extensively in various sportswear, such as swimsuits and exercise wear owing to its lightness & ability to allow free movements thus preventing chafing & rashes. Growing sportswear demand will foster product demand.
| Report Attributes | Details |
|---|---|
| Base Year: | 2018 |
| Market Size in 2018: | USD 637.71 Million |
| Forecast Period: | 2019 to 2025 |
| Forecast Period 2019 to 2025 CAGR: | 12.2% |
| 2025 Value Projection: | USD 1,426.26 Million |
| Historical Data for: | 2014 to 2018 |
| No. of Pages: | 142 |
| Tables, Charts & Figures: | 154 |
| Segments covered: | Application |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Growing product demand from several end-user industries, including automotive & apparel sectors, along with strategic collaborations & alliances between manufacturers will drive the Americas spandex market share. In February 2019, ITOCHU Group, a global trading firm, collaborated with Shandong Ruyi Science and Technology Group, a Chinese clothing firm, to acquire The LYCRA Company, a spandex apparel manufacturer based in the U.S. This acquisition allows the partnering firms to achieve collaborative synergies and increase the corporate value of LYCRA
U.S. textile and apparel shipments were reported over USD 76.8 billion in 2018. Favorable policies and initiatives by the government in the region to promote the textile & clothing sector will have a positive impact on industry growth. The changing spending patterns of the middle-class has led to increased expenditure on apparel & clothing, which will enhance Americas spandex market.
Companies invest on technological advancements in order to improve production efficiency and provide quality product. Functional drawbacks including heat sensitivity and moisture trapping of spandex may hamper industry growth. However, growing product demand for medical applications will positively impact Americas spandex market growth.
Americas Spandex Market Analysis
Spandex is extensively used in garments, where fit and comfort are essential such as undergarments, hosiery, socks, gloves, exercise wear & denim. Technologies including virtual reality, artificial intelligence, and augmented reality have proliferated the domain of fashion retail for offering greater convenience to consumers and manufacturers. These factors will have a positive impact on Americas spandex market.
Spandex fabric is used for producing safety gloves for diverse end-use industries including construction, oil & gas, chemical, automotive, mining, etc. Surging awareness towards workers’ security in construction, mining, chemical, oil & energy, and machinery industries will propel the demand for safety gloves, thus fueling the utilization of spandex over the forecast period.
Canada athletic leisure apparel market is forecasted to grow over USD 3.5 Billion by the end of 2021. The product owing to good elasticity is used to manufacture sportswear. Rising Sports industry due to growing health and wellness trends across the U.S., Canada, Mexico, Brazil and Argentina, will have a positive impact on Americas spandex market growth.
The high elasticity of spandex makes its suitable for home decor products including chair & pillow covers, as it stretches to fit most chairs, allows quick recovery, and is anti-skid. The product offers great convenience on account of its wrinkle-resistance, comfort, softness, and ease of cleaning. Rising inclination towards interior designing for offices and homes will foster North America spandex market demand.
Spandex offers wrinkle & stain resistance properties and UV protection, making it ideal for curtains and party drapes. It provides desirable aesthetic properties, is skin-friendly, durable, and breathable thus stimulating its use as sofa cover. Growing furniture industry owing to increasing construction activities in the region will positively impact Americas spandex market share.
The growing prominence of sports owing to a rise in consumer health consciousness along with high consumer spending is generating new growth opportunities for spandex manufacturers. Rising inclination for sports activities in the country will foster the demand of spandex fabric. Growing construction activities in the region will foster the demand for home furnishings thus driving the growth of North America spandex market.
The product is used in automotive textile applications such as door panel fabrics, car seat covers, and other uses. Spandex can be utilized with a mix of other automotive textile materials. High R&D investments to improve the use of innovative textile fibers will provide potential growth prospects. Growing automotive production in the region will foster automotive textiles demand thus stimulating Americas spandex market growth.
Americas Spandex Market Share
Americas spandex market is consolidated with key players including :
- Hyosung
- INVISTA
- TK Chemical Corporation
- Taekwang Industrial Co. Ltd.
Market players are engaged in innovations, product launches, and partnerships, in order to expand their product portfolio and increase presence in other potential regions. In November 2019, The LYCRA Company also launched a line of eco-made fibers type 161E and 162E, which conform the Global Recycled Standard (GRS). The certified product is currently produced in Brazil, is made partially from pre-consumer recycled materials, and verifies with the strict environmental & chemical requirements. It also introduced eco-made fibers LYCRA T400 with enhanced sustainability. The fiber is made from a combination of recycled materials diverted from landfills. The company also aims to convert its spandex brand COOLMAX to post-consumer recycled fabrics by 2021.
Americas spandex market report includes in-depth coverage of the industry trends, with estimates & forecast in terms of volume (Kilo Tons) and revenue (USD Million) from 2014 to 2025, for the following segments:
Click here to Buy Section of this Report
By Application
- Apparel
- Sportswear
- Gloves
- Swimwear
- Activewear
- Medical
- Diapers
- Surgical Hoses & Compressional Stockings
- Bandages
- Home Furnishings,
- Automotive Textiles
The above information has been provided for the following regions and countries:
By Region
- North America
- U.S.
- Canada
- Mexico
- LATAM
- Brazil
- Argentina
Frequently Asked Questions (FAQ) :